* Oil Formed a descending Triangle. Giving more bearish confirmation of target of $60 * FED giving signs of another 75-point basis hike. Recession fears are bearish for oil * Demand slows down worries due to China’s zero COVID policy and OPEC+ cutting production * Energy Price Cap oil gapped up from opening on September 4th. Extended 3% by September...
Continuous downtrend on oil. Currently around the area of 97.75. Waiting for retrace to trend line before continuing down. Crude has tested this current minor structure demand area three times since july 5th. Formed a double bottom on the Weekly timeframe. Waiting for a break and close below current support around $97.00. With continued recession fears,...
Gas is the winning card of Russia Ukraine's global conflict in investor view. We have seen a lot of back and force between Russia and the USA because of a pure political-military opportunity from the USA side, What makes Ukrania is the main interface of the USA in Europe, From Russia side, they will not choose the war as the best option rather than using...
- Aneeka Gupta, Director, Macroeconomic Research, WisdomTree Natural gas prices have declined sharply by 32.8%1 over the prior month. As we discussed here, market price action had run ahead of its underlying fundamentals. A combination of expectations of a warmer than usual winter period in North America2 coupled with the implied reduction in natural gas demand...
First off, please don't take anything I say seriously or as financial advice. That being said, this is on opinion basis (as always). Spire Inc. recently went down for a variety of reasons. One of those reasons I think is a result of resistance given lower demand for gas consumption in the coronavirus time period. That is why I am not bullish for the expected...
Historically oil has been in a down trend for almost 20yrs, along with the trend current global conditions are removing demand from the equation with average expected decreases of 2 million barrels a day! To make matters worse supply has not decreased at all! Multiple oil producing nations are continuing production regardless of decreased demand and prices,...